CRUDE OIL DOWN 30%

lol Russia is getting fucked by this, and so is Syria

Demand for oil has plummeted because china is shut down but for us it means cheap gas.

We get cheap gas. The only people upset by this are shale producers and they can just learn to code and stop being cry babies.

It means that Saudi post last night wasn't a larp.

It is under control, habibi.

coolio, 2 cents cheaper gasoline

BUY OIL
BUY OIL
BUY OIL

S&P futures down 115
Gold up $18/oz
Copper down -3.5%

it means another round of bankruptcies in the fracked oil industry.

Total nothingburger

I'm finished. it will take me years to get my money back

damn dude thats crazy

Based
Gas is less than $2/gal around here in the midwest now

Russia has wanted lower prices for the longest time dumbass, what do you think OPEC+ is? Russia was keeping the price from collapsing in return for cooperation and investment from Middle Eastern countries. They didn't put out so he said fuck it and trashed the agreement. Now Saudis are going ape shit and flooding the market too because they want to preserve market share, same as the Russians.

link?

What did you do, idiot?

QUICK RUNDOWN:
Global oil consumption is relatively constant.
Suddenly, there is a massive supply of oil.
This means to sell the same amount of oil, you have to sell it for less.
This leads to a price war between all oil sellers, which Middle East will win because their oil is the cheapest to make.
This causes every company that cannot produce oil at a profit to just shut down.

>2 PUTS on GUSH
I sold most of my GUSH puts on Friday for 100%, now I'm going to get 500% on my last 2!

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this is solely to fuck with Russia and the other BRICS nations. "Peak Oil" happened when Russia and China were exploring new oil wells and establishing the infrastructure to make use of them. Prior to that it was a Western nation only thing. We realistically could continue using oil forever, but the sudden push for renewable energy is the response to Russia.

What did Saudis post?

Here the liter of diesel went from 1.44€ on 1st of january to 1.30 today.

Saudis and Russians flooding the market because the OPEC deal collapsed. Both want to kill each other but both also want to kill US shale.

funny money financed fracking boom even though they never made money. Frackers burned through 100 billion dollars.
But it led to rock bottom oil prices.
Oil can go right back up with the banks agree to stop financing frackers, because the depletion rates on frack wells are astronomical. output goes down by 50% after 1 year.

OPEC is a cartel trying to keep oil prices as high as possible, they peaked with oil at $100 but thanks to fracking they couldn't maintain it. Saudi Arabia proceeded to tank oil prices to put them out of business, it didn't quite work, now they are doing it again presumably to avoid a global recession. Saudi Arabia has the cheapest oil of any country and frequently goes against OPEC. Russia, Syria, Venezuela, they're all fucked.

oh I just have lots of money in varius oil stocks. I only bought quality so they won't go BK but it will take a while for oil to recover.

WTFFFF WAS THAT???

Lmao, the recession here is going to suck hard, we deserve it for electing Trudeau twice though.

Filled up a tank of LPG at 0.45 cents a liter this weekend. It was over 0.60 cents not long ago.

Russia's break even price per barrel is $20. They don't want it lower than that, I assure you

>2 PUTS on GUSH
someone want to explain the term "put" for me. never heard until market dip 2 weeks ago.

Forgot to mention Saudi price war with OPEC deal with Russia falling flat.

I actually agree. Saudis and Russia will be back at the table in 1 month or less.

This right here.
Prepare yourselves, burgers, there are no brakes on the ride

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DOW FUTURES DOWN OVER 1000!!!!!!!!!!!!!!!!!!!

Good, lower oil is inflationary
Between this and the consumer demand hike, Q2 earnings are going to be hot as hell

Trump lowering gas prices the winning never stops

Thank god I got out of the oil industry when I did. What a shit industry.

frackers all going bk this year

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Canada is the most fucked, our oil costs the most to produce.

Steve jewchin and the PPT saved the monday futures last monday morning when nobody was watching. If its down over 2000 even they cant salvage it though.

LMAO you idiots

good. cheap gas is welcome.

Riddle me this Yas Forumsaks
Afaik this is because Pootin refuse to reduce oil production in order to hit US shale industry hard
But in 2015 OPEC significantly increased oil production, resulting in very low oil prices and Rouble value became basically non existant over night. This was presumably ordered by Obongo to punish Ukraine boogaloo.

So does this mean that Pootin is now deliberately sinking his own economy based on oil and gas to take a stab at the US?

it's all over tomorrow nigger. they're locking down NYC at 8pm tomorrow

Who holds their notes?

For technical reasons the fracked oil industry has difficulties in shutting down or even slowing production once it begins. Prices lower than production cost means bankruptcy to them. Fracked oil is very risky financially.

For the average person? Cheap gas.
For investorcucks? Panic time.
For petroleum industry workers? Layoff.

Average person: Awesome
Investors: Go fuck yourself
Oil workers: Learn to Code

Based Trumperino will fix this.

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let them default and fuck the jew bankers.

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Russia isn't fucked in any way, shape, or form, dumbass.

Per Tom Luongo:
The ruble floats to absorb price shocks in dollars. A majority of their oil is now sold in non-dollar currencies like rubles, yuan, euros, etc. to lessen their exposure to capital outflows. The major oil firms have little dollar-denominated debt. Russian oil has low extraction costs. Russia's primary governmental budget ebbs and flows with oil prices.

Russia is the only country in the world that's prepared for a prolonged price slump.

Tar isn't oil. Your tar is very very expensive to produce.

jesus

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futures LUL

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>he thinks they ever get fucked
too big to fail, bro. they will just steal money from us directly, like they did in 2008

>Trump lowering gas prices the winning never stops

see
This is going to destroy the US shale industry. The S&P futures are down 107 points.

A "put" is a stock option with a short position. A short means you anticipate a stock going down. A stock option is a contract gives the owner the ability to buy 100 shares of a stock at a specific price and date. A "put" will increase in value the lower the stock price falls.
investopedia.com/terms/s/short.asp
investopedia.com/terms/s/stockoption.asp
investopedia.com/terms/p/putoption.asp

Nice - I've got a road trip coming up this week so gas'll be cheap.

>3.8%
Anyone quoting point change is deliberately being deceptive.

War in 3...2...1...

you're FUCKED nigger

AHAHAHAHAHAHAHAHAHAHAHAHAH

>it's not that bad
>it's fine
>everything is fine
the panic is thick

Do yourself a favor and don't buy options on equity derivatives in the middle of above normal volatility when you are a noob.

YESSSSSSSSS!!!!!!!!!!!!! IM AN OIL TRADER AND NOW I'M DEFINITELY GOING TO MAKE A LOT OF FUCKING MONEY!!!!! HOLY FUCKING SHIT I WILL ACTUALLY "MAKE IT" THIS YEAR!!!!

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Saudi Arabia goes bankrupt and collapses at that price. They won't keep this up for more than a fortnight before tapping out.

Cheap oil means fuel for the war machine

Time to fill my tank and jerrycans?

The Russian economy is a bit more diversified now.
Also Nordstream 2, Turkstream and the Russia/China pipeline are all near operation which secures gas revenues

>The ruble floats to absorb price shocks in dollars.

meaning, Russian people overall get poorer, instead of just their oil companies.

Tards
You like using points because it makes the change seem more extreme than it is when it is actually irrelevant.
1000 points from an 8000 level is a lot different from 1000 points at a 25000 level.

lolololol but muh stawks. When the US actually starts testing people for corona your boomer opium will be your undoing. I wonder if Trump will get coronavirus, he was at CPAC after all.

link pls?

LINK IT FAGGOT, U STUPID FUCK. STOP HOARDING THE LINK KIKE

It's means we are going to turn the entire Middle East into a warzone like Syria and Iraq

thx. so essentially you betting on failure.

I get it dude you are super afraid and super irrational.

Think again your JEW congressfaggots in your state will keep gas prices where they are and simply raise the gas tax for reasons

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The future is bright
LAMBRIGHT 2020

How is your triangle?

Saudi retards will go bankrupt and we can buy gold Lambos for a few hundred thousand. Wonder what they did with their Instagram whores?

Not in JEW YORK where they KIKE you at every mother fucking opportunity. GOD DAMN YOU KIKE NIGGERS!!!!!

4 weeks ago it was 29k lmao